What to know:
- XRP price trades near $1.02, gaining 1.46%, with $1.90 billion daily volume and $63.80 billion market cap.
- Holding $1 could target $1.05-$1.08, while breakouts may expose $1.20 and $1.29-$1.37 resistance.
- Losing $1 support could send XRP toward $0.90-$0.86, with $0.50 emerging after further breakdown.
XRP price is showing signs of recovery after briefly coming under pressure around the psychologically important $1 level. This rebound has allowed the price to restore itself to approximately $1.02, giving buyers a chance to regain momentum after a phase of weakness.
Currently, XRP is trading near $1.02, posting gains of about 1.46% in the last 24 hours. XRP’s daily trading volume is estimated to be around $1.90 billion, while the market cap is close to $63.80 billion.
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XRP Price Faces Critical $1 Support
According to a recent post by market analyst Diana, $1 is the crucial level determining the near-term outlook for XRP. According to analysis, holding this area could allow buyers to drive the price towards resistance areas, while falling below it will open doors to $0.90 and $0.86.
The nearest resistance stands in the range of $1.05 to $1.08. Moving above this range can indicate the presence of buying pressure, making $1.14-$1.20 resistance levels relevant. In case of breaking above $1.20 with decent momentum, the next resistance levels highlighted in the analysis are around $1.29-$1.37.
However, these levels will represent milestones of the recovery but not the reversal of the overall trend since XRP is trading below the key weekly resistance of $1.40, the level that has been restraining XRP’s previous recovery attempts.
Broader XRP Trend Remains Under Pressure
Despite the current bounce, the overall technical picture is bearish. XRP is still creating lower highs and lower lows, a formation that indicates a further continuation of the downward pressure on the market.
Therefore, a short-term recovery should be viewed with caution. A move from $1 to $1.08 or even $1.20 can be considered just a relief rally that doesn’t change the structure of the market at all. A reversal will require creating a higher high and eventually breaking out the $1.40 resistance level on a weekly chart.
In case of failure to hold the $1.00 support level, the risks of further losses for XRP can grow very quickly. According to the current analysis, the first bearish target for XRP stands at the $0.90-$0.86 range, but in case of another breakdown, the $0.50 price level could come under the spotlight as the critical support zone.
What Can Happen Next for XRP?
The next important move for XRP will largely depend on its ability to stay above $1 and to break back some resistance levels. Staying above $1 will keep the recovery scenario in focus, while a move to $1.08 can strengthen the bullish scenario for the near future.
A breakout of $1.20 will indicate further improvement of the technical picture and will allow XRP to test the $1.29-$1.37 range. However, a more solid confirmation of the trend shift will require a breakout of the $1.40 resistance level.
On the other hand, a violation of the $1.00 level can weaken the recovery scenario and draw attention to the $0.90-$0.86 zones. Further breakdown of them can put the whole $0.50 price level into focus.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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